Regulatory Alerts2017-02-27
Added · Updated
Circular dated February 27, 2017 regarding the conditions that must be met to include interim profits/losses within the capital base of the capital adequacy standard
The Central Bank of Egypt amended paragraph 2/2/2/2/2 of the instructions issued to banks on December 24, 2012, concerning the minimum capital adequacy standard. The amendment permits banks to include net interim profits in the capital base following a limited review by the bank's external auditor of the financial statements, while interim losses are to be deducted without any conditions.
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